Party City Holdco Inc (NYSE:PRTY) – Research analysts at William Blair upped their FY2018 earnings per share (EPS) estimates for Party City Holdco in a research note issued to investors on Wednesday. William Blair analyst D. Hofkin now expects that the specialty retailer will earn $1.90 per share for the year, up from their prior forecast of $1.60.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The business had revenue of $560.11 million for the quarter, compared to analyst estimates of $587.74 million. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets set a $18.00 price target on shares of Party City Holdco and gave the company a “buy” rating in a report on Thursday, January 11th. Telsey Advisory Group restated an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Party City Holdco in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Bank of America set a $16.00 price target on shares of Party City Holdco and gave the company a “hold” rating in a report on Thursday, December 28th. Finally, ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.43.
Party City Holdco (NYSE:PRTY) traded down $0.10 during mid-day trading on Monday, hitting $15.40. 785,757 shares of the stock were exchanged, compared to its average volume of 893,160. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.05. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 0.51. The firm has a market capitalization of $1,850.00 and a price-to-earnings ratio of 16.04.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC grew its position in Party City Holdco by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock valued at $1,097,000 after purchasing an additional 205 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Party City Holdco by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock valued at $1,525,000 after purchasing an additional 608 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Party City Holdco by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the specialty retailer’s stock valued at $392,000 after purchasing an additional 894 shares in the last quarter. Teachers Advisors LLC grew its position in Party City Holdco by 2.6% during the second quarter. Teachers Advisors LLC now owns 52,572 shares of the specialty retailer’s stock valued at $823,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Party City Holdco by 7.6% during the second quarter. Rhumbline Advisers now owns 33,211 shares of the specialty retailer’s stock valued at $520,000 after purchasing an additional 2,360 shares in the last quarter.
In related news, CEO James M. Harrison acquired 20,000 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $11.27 per share, with a total value of $225,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald C. Rittenberg sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $14.00, for a total transaction of $1,400,000.00. The disclosure for this sale can be found here. Insiders have sold 22,642,979 shares of company stock worth $277,826,948 over the last ninety days. 5.02% of the stock is currently owned by insiders.
Party City Holdco declared that its Board of Directors has approved a share buyback plan on Thursday, November 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
About Party City Holdco
Party City Holdco Inc is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc (PCHI).
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